PHYL - Fixed Income: No Time To Yield

2024-04-09 14:25:00 ET

Summary

• Bond yields are higher today than they were 20 years ago.
• With inflation indicators falling around the globe, the time of elevated cash rates may be drawn to a close.
• Yet, as global central banks appear at or near the end of a tightening cycle designed to quell the most significant surge in inflation in decades, investors could be moving even more quickly back into fixed income.

Episode Description:

Bond yields are higher today than they were 20 years ago. With inflation indicators falling around the globe, the time of elevated cash rates may be drawn to a close.

Investors are moving back into bonds in record numbers, with 2023 global bond ETF inflows totaling $333 billion. Yet, as global central banks appear at or near the end of a tightening cycle designed to quell the most significant surge in inflation in decades, investors could be moving even more quickly back into fixed income....

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